NewEdge Advisors LLC Purchases 20,644 Shares of Boston Scientific Co. (NYSE:BSX)

NewEdge Advisors LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 34.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 81,307 shares of the medical equipment provider’s stock after purchasing an additional 20,644 shares during the period. NewEdge Advisors LLC’s holdings in Boston Scientific were worth $6,261,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC increased its holdings in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in shares of Boston Scientific during the 1st quarter worth approximately $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the 2nd quarter valued at $26,000. Andra AP fonden bought a new position in Boston Scientific during the second quarter worth $29,000. Finally, RiverPark Advisors LLC acquired a new stake in Boston Scientific in the first quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

Boston Scientific stock opened at $84.14 on Wednesday. The stock has a market cap of $123.44 billion, a P/E ratio of 70.71, a P/E/G ratio of 2.78 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average price is $79.55 and its two-hundred day moving average price is $75.56. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.89.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. On average, equities analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BSX shares. Truist Financial increased their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group increased their price target on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Raymond James increased their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.10.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.